Advent International and the Otto Group agreed to sell Evri to Apollo-managed funds. Milbank LLP advised the Otto Group on the transaction. The transaction is expected to close in the third quarter of 2024. Evri is a leading UK parcel delivery company with a strong national network purpose-built for third-party e-commerce parcels, serving, on average, more than 12 million customers per week. Milbank had previously advised the Otto Group on the sale of a majority interest in Evri (formerly Hermes Parcelnet) to Advent International. The Milbank team included partners Norbert Rieger, Pascal Härdtner (both Corporate/M&A, Munich), Paul Buchan (Corporate/M&A, London), and Rolf Füger (Tax, Munich) as well as associates Catriona Mather (Corporate/M&A, London) and Arne Hammerich (Tax, Munich).